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Nobody wants to be in temporary financial distress, but sometimes life happens and a payday loan is one possible solution. But many people have the misconception that a payday loan is only for a certain type of person. The truth is, our customers come from all different walks of life, with diverse backgrounds, jobs and age range.
Through a series of short stories, we will explain how anyone can benefit from a payday loan. Although these examples are based on fictional characters, they demonstrate how Pay2Day can help in real-life situations.
How a Payday Loan Works: Meet Trina & Tigger
Trina lives in Brampton, where she works as an administrative assistant for a dental office. She likes hanging out with her friends and visiting with family, but at the end of the day, her favourite thing to do is to come home and spend time with her loveable cat and best buddy, Tigger.
One evening, Trina noticed that something was wrong with Tigger. Usually a pretty peppy character, Tigger was really sluggish and obviously not well. After taking Tigger to the emergency vet, Tigger will be okay, but now Trina faces a $1,000 vet bill.
Being a single-income household, Trina is meticulous about making sure she pays everything on time. She keeps her credit limits low, which means there is no room to charge any extra expenses this month. She has $600 in savings, but is unsure of how she will obtain the remaining $400 needed to pay for Tigger’s care.
Trina researched her options and decided that a payday loan would be her best choice. On her lunch break, she went to her local Pay2Day office. She completed the application process, provided proof of employment along with her banking information, and received the needed $400.
Pay2Day provided Trina with an alternative to borrowing money from a traditional lender. She did not have to explain why she needed the money or use anything for collateral to obtain the loan. Trina is sure she will be able to pay the loan back when she receives her next paycheck because she decided to keep it small and manageable.
Because of a payday loan from Pay2Day, Trina was able to provide Tigger with needed care and keep her budget on track.